Form 4: Clover Health CEO Conrad Wai Sells 220K Shares

Clover Health CEO Conrad Wai sold 220,426 shares of Class A Common Stock via a pre-arranged Rule 10b5-1 trading plan.

Summary

• Conrad Wai, CEO of Counterpart Health at Clover Health, sold 220,426 shares of Class A Common Stock.
• The transaction occurred on May 28, 2026, at an average price of $3.99 per share.
• The sale was executed under a Rule 10b5-1 trading plan adopted on March 3, 2025.
• Following the sale, the reporting person retains 1,390,056 shares held in trust and 1,169,914 shares held directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the sale was executed via a pre-planned, automated trading program.

Positives

• The sale was conducted through a pre-established Rule 10b5-1 plan, which is a standard mechanism for executives to sell stock without triggering insider trading concerns.

Negatives

• The sale represents a reduction in the executive's personal stake in the company.

Risks

• Insider selling can sometimes be perceived negatively by the market as a signal of management's view on current valuation.

Future Outlook

No specific forward-looking guidance regarding company operations was provided in this filing.

Industry Context

StockSavvy.ai notes that executive stock sales under 10b5-1 plans are routine corporate governance events and generally do not reflect a change in company strategy or fundamental outlook.

Comparison to Industry Standards

• The use of Rule 10b5-1 plans is the industry standard for executives to manage personal liquidity while maintaining compliance with SEC regulations.

Stakeholder Impact

• Minimal impact expected as the sale was pre-planned and represents a portion of the executive's total holdings.

Next Steps

• No future actions or milestones were disclosed in this filing.

Key Dates

Keywords

Clover Health, CLOV, Insider Trading, Form 4, Conrad Wai, Stock Sale